Investment management company Vulcan Value Partners recently released its third quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, all delivering negative returns in the third quarter. The fund’s Large Cap Composite returned -4.2% net of fees and expenses, the Small Cap Composite returned -5.7 % net, the Focus Composite returned -1.9% net, the Focus Plus composite returned -2.0%, and the All-Cap Composite returned -4.9% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter 2023 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. On October 13, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $539.40 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was 10.97%, and its shares gained 3.36% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $499.649 billion.
Vulcan Value Partners made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its Q3 2023 investor letter:
“UnitedHealth Group Incorporated (NYSE:UNH) is the largest health insurer in the country and also owns Optum, which is a rapidly growing healthcare services company. The health insurance business benefits from demographic tailwinds and network effects as more members attract more providers and vice versa, which reinforces United’s value proposition and bargaining power with each side of the network. Over the last five years, Optum has grown significantly and roughly half of United’s 2022 EBIT was generated from the Optum business. Optum Health provides care for 102 million consumers and serves more than 100 health payer partners. We expect Optum to continue to grow and be a significant contributor to UnitedHealth Group’s future successes.”
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UnitedHealth Group Incorporated (NYSE:UNH) is in 16th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 111 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of second quarter which was 116 in the previous quarter.
We discussed UnitedHealth Group Incorporated (NYSE:UNH) in another article and shared the list of best dividend stocks for passive income. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
